HAMPTON, Va.--(BUSINESS WIRE)--HST Global, Inc., (OTCBB: HSTC) today announced that it is in final negotiations to obtain the needed capital to complete the acquisition of its first wellness center. This infusion of cash will allow HST to complete the wellness center acquisition and provide operating capital.
Financing will be in the form of a $2,000,000 non-convertible debenture. HST promises to pay to the registered holder the aggregate principal face sum Twenty-Four (24) months from the date of issuance, and to pay interest on the principal sum outstanding, at the rate of 12% per annum commencing upon the first business day following the 6 month anniversary of the closing and such semi-annual periods thereafter.
Wesley Tate, CFO of HST Global, Inc. stated, "We are encouraged by the progress of these negotiations and believe they will conclude in the near future. We anticipate annual gross revenues for each individual clinic of approximately between 8 and 10 million dollars per year. More importantly, this will permit the funding of this acquisition without diluting our current shareholder’s equity while substantiating shareholder value.”
About HST Global, Inc.
HST Global, Inc. is an Integrated Biotechnology Health and Wellness company that is developing and or acquiring a network of Wellness Centers worldwide that are primarily focused on the immunotherapy and alternative treatment of late stage cancer. In addition, the company intends to acquire innovative products for the treatment of late stage cancer. In this regard, the company primarily focuses on immunotherapy and alternative product candidates that are undergoing or have already completed significant clinical testing for the treatment of late stage cancer.
HST Global, Inc. wishes to inform readers that forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that such forward looking statements involve risks and uncertainties including, without limitation, unforeseen changes in the course of research and development activities and in clinical trials by others; possible acquisitions of other technologies, assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.